Skip to content
Subscriber Only

Why Fraudsters Should Applaud the SEC

Mary Jo White began her tenure as chairman of the Securities and Exchange Commission this year with a promise: The agency would require more fraudsters to confess what they did, as opposed to the SEC’s usual practice of letting them pay fines without admitting anything.

Judging from the case of Ebrahim Shabudin, the fulfillment of that pledge is off to a poor start.